My friend has a land deal that he's wanting to push
(PM if you want info 6 acres, $800k, AZ; don't wanna post more details on a regular forum)
My last land deal fell through due to the buyer not having enough time to do due diligence.... My question is
What are all the factors you can think of that makes a land deal good or bad?
zoning (but I feel ability to rezone is more important than current zoning)
whether utilities are on property or not (someone told me how deep utilities are matter as well? is this true or no? how does it affect cost)
the dimensions (but I assume that matters more to each individual buyer due to emergency vehicle clearance etc)
but what am I missing? anything else that i haven't touched on that I need to factor in when looking at land wholesales?
I'd like to be as prepared as I can be to make it easier on buyers. When I start buying and flipping/developing etc myself I'd like to think other wholesalers would do the same for me when I look for deals through them.
- Capacity as zoned (6 lots, 1 acre each). Any approved development plans?
- Encumbrances/impediments on the property such as easements, wetlands/floodplains, steep slopes, etc
The Encumbrances slipped my mind. Thank you. And I didn’t list it but the capacity would fall under the zoning that the property would have at that moment.
If a plat has already been approved can that generally peak interest as to having something ready to go? I See how it could be valuable but don’t see it allowing you to raise the cost of the property more due to it
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